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USDJPY Technical analysis
USDJPY IS GOING DOWN
The pair is on a downtrend rigth now. USDJPY was consolidating from107 to 108 ysterday has found its storng resistance at 108.15 where is 20day SMA . On the daily chart as you can see it is a downtrend and it made a another lower high at 108.15.It is also bearish in the 20SMA
And there is no sign of reversal or divergence from the MACD indicator. So overall i would suggest to go short from 107.70 with take profit at 107.00 and stop loss at 108.00 . 20SMA resistance is 107.95 so overall i think it is good sell in terms of profit factor.
Dont depend only on the technical analysis, also analyse the fundamentals and news . Please let me know on the comment section if you love this post!
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